Gorman-Rupp (NYSE:GRC) Stock Price Down 4.3% Following Weak Earnings

Gorman-Rupp Company (The) (NYSE:GRC) traded down 4.3% on Friday following a dissappointing earnings announcement. The stock traded as low as $45.00 and last traded at $46.99. 22,348 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 69,435 shares. The stock had previously closed at $49.12.

The industrial products company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The firm had revenue of $179.05 million during the quarter, compared to analyst estimates of $174.60 million.

Gorman-Rupp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, November 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.6%. This is a boost from Gorman-Rupp’s previous quarterly dividend of $0.19. Gorman-Rupp’s dividend payout ratio (DPR) is currently 37.56%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GRC shares. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. Wall Street Zen lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Hedge Funds Weigh In On Gorman-Rupp

Institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its stake in shares of Gorman-Rupp by 125.0% during the 2nd quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after buying an additional 939 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Gorman-Rupp during the 3rd quarter valued at about $65,000. CWM LLC raised its stake in shares of Gorman-Rupp by 47.0% during the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock valued at $67,000 after buying an additional 464 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Gorman-Rupp by 135.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,180 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Gorman-Rupp by 42.3% during the 1st quarter. Quantbot Technologies LP now owns 3,014 shares of the industrial products company’s stock valued at $106,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Price Performance

The stock has a 50 day simple moving average of $44.56 and a two-hundred day simple moving average of $39.81. The firm has a market cap of $1.22 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.39 and a current ratio of 2.39.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.